OLX, Property24 eye P100M in combined sales

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CLASSIFIEDS platform OLX Philippines and property portal Property24 are optimistic of hitting a combined real estate sales target of around P100 million by the end of the year.

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“P100 million, closer to or a little bit more—that’s what we are striving to reach this year,” Ferdie Perez, head of Operations and Real Estate at OLX Philippines, told The Manila Times following a Property24 press briefing in Taguig City on Tuesday.

Perez said they were on track and “growing significantly” as the real estate industry in the country was “booming along with the overall macroeconomic growth.”

He said the country’s real estate industry grew by 13.8 percent in August to P260 million compared to the P241 million posted in 2016, based on data from the Philippine Statistics Authority.

He also presented the first quarter report of research firm JLL that showed mid-range and high-end condominiums and open market housing had led the growth of residential developments in the Philippines.

Perez noted the role of online selling in the growth of the industry. “Three out of four real estate sellers utilize online [platforms]to sell their properties,” he said.

With their combined efforts to widen their online reach, OLX and Property24 now claim to have 2 million views per month with 300,000 potential buyers looking at thousands of properties.

Perez also noted they add 2,087 properties every day to their online offerings.

“With a combined total of nearly 2 million visits on both our platforms, last year’s sync allows us to bring more value for our customers,” said Raffy Montemayor, OLX Philippines general manager.

OLX and Property24 entered into a partnership in September 2016 to allow their listings to appear on both portals.

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